Some that bought in after New Year still looking to exit and MMs know this is illiquid and will turn the thumbscrews.
Would say it is a good chance to add (when everyone wants the shares the opposite happens and it doubles in price) but the MMs were offering very little.
Hopefully for us longtermers more newsflow and seeing more projects developing will move the SP up and also give investors more reason to hold the stock.
Personally feel the only way holders will be able to exit here is a sale of the Company so look forward to more projects coming online, in development and with planning. Some of our projects have good historical ROCs and these are far better than can be awarded now, so the projects should be more attractive.
I share your frustration on the share movements and would add that those 4 trades were for a total of about £1,600
It has to be admitted that at first glance shares of React Energy would not appear to be the ideal candidate as far as being a charting contender. This is said as much on the basis that this is clearly not the most liquid of stocks, a point underlined by the way that there have been erratic looking movements and gaps on a periodic basis. Nevertheless, the situation is saved as far as the perspective of a chartist is concerned by the way it is possible to draw a falling wedge reversal on the daily timeframe from as long ago as October 2014.
The top of the wedge was conquered by the bulls to start the New Year, and the message at the moment is that provided there is no end of day close back below the 2014 resistance line / 10 day moving average at 2.85p we should see at least an intermediate rally back to the main post summer 2015 resistance at 7.5p. However, the big price on a 1-2 months timeframe here would be for a journey to hit the 200 day moving average at 8.92p and the old November 2014 floor at 10p, all of this powered by the latest bounce for the RSI indicator off neutral 50 – typically a leading indicator on a new upside leg.
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